Jefferies Group Reaffirms “Buy” Rating for Cigna Corp. (CI)
A number of other equities analysts have also issued reports on the company. Goldman Sachs Group Inc. reaffirmed a buy rating and issued a $160.00 target price on shares of Cigna Corp. in a research report on Thursday, September 8th. Leerink Swann cut their target price on Cigna Corp. from $160.00 to $155.00 and set an outperform rating on the stock in a research report on Monday, August 1st. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $149.00 target price on shares of Cigna Corp. in a research report on Friday, July 8th. Zacks Investment Research raised Cigna Corp. from a sell rating to a hold rating in a research report on Tuesday, October 4th. Finally, William Blair reissued a buy rating on shares of Cigna Corp. in a research report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Cigna Corp. currently has a consensus rating of Buy and an average price target of $157.65.
Cigna Corp. (NYSE:CI) opened at 120.90 on Friday. Cigna Corp. has a 52-week low of $120.09 and a 52-week high of $148.99. The company has a 50-day moving average of $128.29 and a 200-day moving average of $131.01. The stock has a market capitalization of $31.02 billion, a price-to-earnings ratio of 15.68 and a beta of 0.43.
Cigna Corp. (NYSE:CI) last announced its earnings results on Friday, July 29th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.41. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. The business earned $9.89 billion during the quarter, compared to analyst estimates of $9.98 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts expect that Cigna Corp. will post $7.99 EPS for the current year.
In other news, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $132.28, for a total value of $66,140.00. Following the completion of the transaction, the vice president now owns 4,017 shares of the company’s stock, valued at $531,368.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CI. Canada Pension Plan Investment Board boosted its position in shares of Cigna Corp. by 103.3% in the first quarter. Canada Pension Plan Investment Board now owns 375,270 shares of the company’s stock valued at $51,502,000 after buying an additional 190,700 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its position in shares of Cigna Corp. by 40.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 51,000 shares of the company’s stock valued at $6,999,000 after buying an additional 14,700 shares in the last quarter. BB&T Securities LLC boosted its position in shares of Cigna Corp. by 12.0% in the first quarter. BB&T Securities LLC now owns 25,053 shares of the company’s stock valued at $3,438,000 after buying an additional 2,681 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Cigna Corp. during the first quarter valued at $682,000. Finally, RPg Family Wealth Advisory LLC boosted its position in shares of Cigna Corp. by 1.0% in the first quarter. RPg Family Wealth Advisory LLC now owns 40,751 shares of the company’s stock valued at $5,593,000 after buying an additional 413 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.
About Cigna Corp.
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, Other Operations and Corporate.
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